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remember, before the election, questions about how it was counted. were the numbers accurates lots and lots of revisions. do you feel we can trust these numbers? >> yeah, i think we can trust the numbers. i think it would take a heroic conspiracy by people at the bureau of labor statistics are in the administrative branch nrd to cook the numbers. there's volatility, and revisions, but i don't think that's theeissue. the issue is the policies we're debating in the context of the fiscal cliff. gerri: it's interesting you say the impact of the fiscal cliff impacting manufacturing here. how do you see that? >> i mean, if it's going to impact manufacturing, but business generally. care about the manufacturing sector certainlily, but there's all sorts of activity, where it locates, and whether it's building, expanding, or contracting. manufacturing is just a piece of the overall pie. there's tons of other stuff. gerri: tons. jeff, you know, the federal reserve seems to uphold every trick in the book and made up more to get the economy going. they say they'
remember, before the election, questions about how it was counted. were the numbers accurates lots and lots of revisions. do you feel we can trust these numbers? >> yeah, i think we can trust the numbers. i think it would take a heroic conspiracy by people at the bureau of labor statistics are in the administrative branch nrd to cook the numbers. there's volatility, and revisions, but i don't think that's theeissue. the issue is the policies we're debating in the context of the fiscal...
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nothing's changed post-election as opposed to pre-election. the, uncertainty of the tax situation, the fiscal cliff that everyone is tired of hearing about frankly. the overburdensome regulatory environment that we're in is depressing growth, particularly for small business. and i think that's a primary distinction here as we talk about business itself because all business is not created equal. and the president's jobs council who has some wonderful folks, some friends of mind on it, wholly inefficient in my view because there is no representation from small business on that jobs council. melissa: catherine, let me ask you, what i look what happened with the case in darden, it seems like what happened to a bunch of different companies, my take at the end of the day, for sure they're not going to hire anyone and that's what we need more than anything right now. >> you're exactly right. what we need are jobs, jobs, jobs. there is so much uncertainty out there right now with what will happen with taxes. we still don't know the full impacts of oba
nothing's changed post-election as opposed to pre-election. the, uncertainty of the tax situation, the fiscal cliff that everyone is tired of hearing about frankly. the overburdensome regulatory environment that we're in is depressing growth, particularly for small business. and i think that's a primary distinction here as we talk about business itself because all business is not created equal. and the president's jobs council who has some wonderful folks, some friends of mind on it, wholly...
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dan says, thii tax bite is why we should hold elections on april 15th. that is a great idea. it all comes together. i love hearing from you. send me an e-mail. gerri@foxbusiness.com. finally tonight, just when you thought of retiring massachusetts congressman -- congressman barney frank was stepping out of the limelight, no way. the boston globe reporting the 72-year-old democratic congressman who is set to retire in january hired the bi shot hollywood agency william morris to represent him in the next phase of his career. william morris is run by r.e.m. manuel, the brother of chicago mayor and the inspiration for the character ari goldman the
dan says, thii tax bite is why we should hold elections on april 15th. that is a great idea. it all comes together. i love hearing from you. send me an e-mail. gerri@foxbusiness.com. finally tonight, just when you thought of retiring massachusetts congressman -- congressman barney frank was stepping out of the limelight, no way. the boston globe reporting the 72-year-old democratic congressman who is set to retire in january hired the bi shot hollywood agency william morris to represent him in...
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melissa: republicans lost five house seats in the november election and admitted to wanting to get it done before the legislature takes office next month. unions may not like it. it is proorkers pro-growth, pro-employment, pro-economy. you name it. good for them. still to come my two cents more on barney frank's next career move. it is a shocker. will it be a merry little christmas for the stock market? scott martin will tell us whether santa will bring a bull or a bear a what 2013 has in store for us. ♪ . melissa: "fox business alert" for you now. tflix is facing scrutiny over a facebook post by its ceo. listen to this. securities & exchange commission recommending action be brought against ceo reed hastings. he posted hisonline video, viewing exceeded one billion hours for the first time ever in june. information how the company was performing. the sec says that information should have been disclosed in a regulatory filing or news release. shares of netflix rose more than 6% on the day ofhe post and another 13 points on the next trading day. in response to the sec notice hastings
melissa: republicans lost five house seats in the november election and admitted to wanting to get it done before the legislature takes office next month. unions may not like it. it is proorkers pro-growth, pro-employment, pro-economy. you name it. good for them. still to come my two cents more on barney frank's next career move. it is a shocker. will it be a merry little christmas for the stock market? scott martin will tell us whether santa will bring a bull or a bear a what 2013 has in store...
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his successor, whoever she names, will have to run in 2014 in a special election. that person and senator lindsey graham will both be running at the same time in 2014 and south carolina. dagen: very interesting. dan henninger. thank you very much. connell: it is time for the fha to get in the hot seat. shaun donovan appearing before the committee. dagen: it begins with 3.5% down. that is your down payment if you need an fha loan. peter barnes standing by with more. peter: a bailout is coming. the housing secretary cannot rule it out. he is highly concerned that there may be one. they found it has a 13.6, pardon me, $16.3 billion capital reserve shortfall. they say it is too soon to say whether the fha will need any money from the treasury. they are increasing fees and making other changes to avoid a bailout. >> it is time to get serious reform for fha. if it is not too late already. right now, the question is quickly becoming not if, but when. peter: the final accounting would be done at the end of fiscal year 2013. the administration says it will not signal his in
his successor, whoever she names, will have to run in 2014 in a special election. that person and senator lindsey graham will both be running at the same time in 2014 and south carolina. dagen: very interesting. dan henninger. thank you very much. connell: it is time for the fha to get in the hot seat. shaun donovan appearing before the committee. dagen: it begins with 3.5% down. that is your down payment if you need an fha loan. peter barnes standing by with more. peter: a bailout is coming....
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the second thing is the uncertainty of the election which held back business investment. for quarter definitely will be weak but the next year i think 2.5 to 3% growth. >> thank you. dave: one of the smartest people in america, no doubt. thank you, good to see you. the clock is ticking away to major tax hikes for everybody. john boehner saying there is no progress to report. so what is going on inside the beltway? we will head there to try to find out. brian led that tells us how the new 60-40 portfolio should look. [ woman ] ring. ring. progresso. your soups are so awesomely delicious my husband and i can't stop eating 'em! what's...that... onyour head? can curlers! tomato basil, potato with bacon... we've got a lot of empty cans. [ male announcer ] progresso. you gotta taste this soup. . . . .. david: come january 1st, no matter which tax plan is put in place the federal government will still spend trillions of dollars each year. lauren: we talked taxes. now let's former cbo director says these cuts fail to control the greatest deficit challenge, federal health care spe
the second thing is the uncertainty of the election which held back business investment. for quarter definitely will be weak but the next year i think 2.5 to 3% growth. >> thank you. dave: one of the smartest people in america, no doubt. thank you, good to see you. the clock is ticking away to major tax hikes for everybody. john boehner saying there is no progress to report. so what is going on inside the beltway? we will head there to try to find out. brian led that tells us how the new...
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that's right, on election day. up next, pro-democracy, protests turning increasingly violence in egypt. how long dii can -- how long can president morsi remain silent, and how long did president obama do nothing? we'll ask lou: this is just in. a senior u.s. official as telling fox news that serious military has mixed chemical weapons and apparently is ready to use them. the chemical weapon has assembled a deadly nerve gas. the syriaa military has about 60 days in which to use this until it expires. it will then need to be destroyed. joining us now is the "a-team." james toronto, mary anne marsh, bradley graham. thank u all for being here. the national debt to the fiscal cliff. what are your thoughts? >> i don't think it matters all that much. i agree with bill clinton's comment from the earlier segment. >> im agreeing with him as a matter of analysis. it doesn't appear that obama is aiming to do something big and constructive here. he is aiming for a victory on a small point of dispute. that is sort of the lowest
that's right, on election day. up next, pro-democracy, protests turning increasingly violence in egypt. how long dii can -- how long can president morsi remain silent, and how long did president obama do nothing? we'll ask lou: this is just in. a senior u.s. official as telling fox news that serious military has mixed chemical weapons and apparently is ready to use them. the chemical weapon has assembled a deadly nerve gas. the syriaa military has about 60 days in which to use this until it...
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the election is done, what will we hear tomorrow? >> i think we are going to hear very tepid job growth, they will likely blame it on sandwich give them a good excuse right now. i think the market will react like it is today. everyone is this availing the economic data and the fiscal cliff. what is more important is how the jobs data affect negotiations on the fiscal left. it is up for jobs report tomorrow it will affect the negotiations and there will be urgency to get something done because everyone concerned about getting jobs. it nicole: everyone is concerned about jobs. back to you. ashley: thank you so much. back in 15 minutes. like a rudderless ship floating in the ocean, the markets description of the day. tracy: poetic. this is not. housing and urban development secretary shaun donovan on hot seat on capitol hill is grilled on the f h a and whether taxpayers foot the bill for multibillion-dollar bailout. gerri willis has this story. we have been waiting for this. gerri: that is will be looking at. off the top of my head. sha
the election is done, what will we hear tomorrow? >> i think we are going to hear very tepid job growth, they will likely blame it on sandwich give them a good excuse right now. i think the market will react like it is today. everyone is this availing the economic data and the fiscal cliff. what is more important is how the jobs data affect negotiations on the fiscal left. it is up for jobs report tomorrow it will affect the negotiations and there will be urgency to get something done...
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could you get elected? >> it is not always about what is electrolyte favorable but i will tell you this. a way not to get elected is talk about only social issues. we have a real fiscal conversation in this country and not do what pecan and murdoch didn't talk about free market ideals and morality of capitalism we will see people understand we're talking about social issues start to cloudy true issues in this country. i believe that if governor romney talk about fiscal issues with real solutions and not had the social issues cloud the tenets of the campaign would of been very different and it is not always allow corley favorable but we are $16 trillion in debt and need real reform or for our country goes bankrupt. >> i agree with you on the dependency picture because the objective of the democrats over many decades certainly the current democratic party is to expand government as far as fast as possible, the object of of that is to expand dependency on government as fast as possible and the ultimate objecti
could you get elected? >> it is not always about what is electrolyte favorable but i will tell you this. a way not to get elected is talk about only social issues. we have a real fiscal conversation in this country and not do what pecan and murdoch didn't talk about free market ideals and morality of capitalism we will see people understand we're talking about social issues start to cloudy true issues in this country. i believe that if governor romney talk about fiscal issues with real...
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he didn't win the election. he certainly did have a plan. >> it is not one that romney backed really. stuart: that's true. i do see a little drift here, a little drift here. at least you're prepared to admit that the president should put forward a reform plan. so let's move on to the issue of tax rates. >> okay. stuart: do you think the president is right to absolutely insist on tax rate increases? he won't tolerate reductions in deductions. he won't do that. no, it must be tax rates. will you defend that? >> well, i think he has the upper hand in the sense that seen, americans say they support raising taxes on the wealthy, so i think he feels that he has a mandate on that issue. look, i feel if the republicans are willing to make up that revenue another way, he should be open to that. i don't think it has to come from raising taxes. it could come -- stuart: the republicans have put forward a plan to raise 800 billion dollars over ten years. >> right. stuart: that's not by raising rates. that's by restricting de
he didn't win the election. he certainly did have a plan. >> it is not one that romney backed really. stuart: that's true. i do see a little drift here, a little drift here. at least you're prepared to admit that the president should put forward a reform plan. so let's move on to the issue of tax rates. >> okay. stuart: do you think the president is right to absolutely insist on tax rate increases? he won't tolerate reductions in deductions. he won't do that. no, it must be tax...
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. >> after my election, i have more flexibility. >> i understand. i just need permission -- lou: a full report on the disturbing turn of events in syria and the likely price of russian cooperation on syria. another middle east dictator, egyptian leader, morsi, with a concession to the opponents inviting them to hold talks on the crisis. is that enough to appease proteste who plan larger demonstrations tomorrow? we'll be talking with fox news middle east expert while ferris in washington institute fellow eric trager, and president obama back on the campaig trail continuing to successfully dress up his ultimatum on higher taxes as a republican decision rather than his own declaration. his staff organized a sit-down wi a middle class family today in virginia claiming congress is to blame p they fail to yield to his ultimatum. why is the mainstream liberal media ignoring the reality it's the president's ultimatum driving us to the fiscal cliff? chris and senior writer for the weekly standard, steven hayes the guests here tonight. we begin with the dicta
. >> after my election, i have more flexibility. >> i understand. i just need permission -- lou: a full report on the disturbing turn of events in syria and the likely price of russian cooperation on syria. another middle east dictator, egyptian leader, morsi, with a concession to the opponents inviting them to hold talks on the crisis. is that enough to appease proteste who plan larger demonstrations tomorrow? we'll be talking with fox news middle east expert while ferris in...
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connell: they have elections next year. not that we are counting on the most honest elections or anything like that. the economy is struggling, you would think the leadership would change. >> eastern europe used to be a communist bloc satellites of the soviet empire. the collapse of the soviet economy back in the early 80s brought us the whole revival of the wall coming down. those kinds of things can still happen in iran. they have to have the same kind of support that ronald reagan gave to the polish and eastern europeans back when it was not a popular thing to do. dagen: do you believe that the current obama administration is willing to provide that kind of support? >> no. that is why i wrote this book. it is about what happens if you do not do the right kind of things to support democracy. quite frankly, we are not doing enough with the right kind of things. dagen: it is a novel? >> it is a novel. this is about and administration that does not do the right things just as we are not doing the right things now. oliver nor
connell: they have elections next year. not that we are counting on the most honest elections or anything like that. the economy is struggling, you would think the leadership would change. >> eastern europe used to be a communist bloc satellites of the soviet empire. the collapse of the soviet economy back in the early 80s brought us the whole revival of the wall coming down. those kinds of things can still happen in iran. they have to have the same kind of support that ronald reagan gave...
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i think the question at the heart of t election that the rld waned the answer to. is the united states capable of serious course correction? and i think both on november the sixth and in the so-called fiscal clef, sokol negotiations that followed, we are telling th orld that the united states is not capable f serious course correcon, and that will have catastrophic consequence for america. lo when yousa catastrophic consequences, tonight it seems as if we are, this roadcast has been organized to prove your point. house ways and means committee in 1996 who was prsident at almost the destruction of the government under resident clinton and peaker gingrich. we have his xperience, also the experience as a member of th budget commission put together by presint clinton which came to nothin just as the simpson bles commission came to nothing. and as this fiscal clef being managed by his president does not look promising. >> that is reallythe point you brought up earlier. when you have european levelsof spending wich we now have come up you have traditional american tax ra
i think the question at the heart of t election that the rld waned the answer to. is the united states capable of serious course correction? and i think both on november the sixth and in the so-called fiscal clef, sokol negotiations that followed, we are telling th orld that the united states is not capable f serious course correcon, and that will have catastrophic consequence for america. lo when yousa catastrophic consequences, tonight it seems as if we are, this roadcast has been organized...
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imagine the first democratically elected president it egypt, who happened tt be muslim brotherhood and forced out that demonstrated against him are more liberal. middle society, women, labor and minorities. that is indicative morsi is not representative of the consensus that we thought he would represent and that is the crisis that will be on for a long period of time. melissa: as we watch all these pictures go by and we know how some people feel about the west and america and especially morsi, we considered the idea we're sending $1.6 billion in aid to egypt every year. now europe is calling on the u.s. to stop that. what do you think about that? what is our best move at this point? >> well, let's remember that those 1.6 more or less billion dollars that we've been sending to the egyptian government, to mubarak for last 30 years or so, were sent for egypt to protect the peace with israel. to make sure the suez canal is always open for international trade and maintain security and friendship with the united states. now that morsi and the muslim brotherhood and salafists allies have for
imagine the first democratically elected president it egypt, who happened tt be muslim brotherhood and forced out that demonstrated against him are more liberal. middle society, women, labor and minorities. that is indicative morsi is not representative of the consensus that we thought he would represent and that is the crisis that will be on for a long period of time. melissa: as we watch all these pictures go by and we know how some people feel about the west and america and especially morsi,...
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we just had an election. raising taxes on the wealthy, as he calls people who make over $200,000 a year. he won the election. they have a mandate. >> the republicans have a lot of leverage. the president wants to have a successful second term. if he allows us to fall off the fiscal cliff that we could fall into a very deep recession. >> if he allows us to fall over the fiscal cliff, and i think they are making that point. >> i believe grover norquist. they should get the media cameras in their. stuart: let's get more on this. we have a special guest joining us. he should have been on varney & company many times. >> i hope this is the first of many appearances. great to be with you this morning. i am kind of in a foul mood this morning. i am going to say something. the three of you are going -- if the republicans just gave the president what he wants on these taxes, low, in the end, the taxes are going up. we still have a trillion dollar deficit. this does not solve anything. at best, even if they raise the mo
we just had an election. raising taxes on the wealthy, as he calls people who make over $200,000 a year. he won the election. they have a mandate. >> the republicans have a lot of leverage. the president wants to have a successful second term. if he allows us to fall off the fiscal cliff that we could fall into a very deep recession. >> if he allows us to fall over the fiscal cliff, and i think they are making that point. >> i believe grover norquist. they should get the media...
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he supported obama totally in the election. without clinton i don't think that obama would have been reelect and that's what he did for him. and what clinton could do in the future, i don't know. i don't know why obama is so insistent on higher tax rates except it fits his rhetoric. stuart: at the end of the day, i think that the republicans will actually submit on the issue of higher tax rates. it may be just tax rates higher for those making half a million a year, i think they'll retreat a little bit. >> i think, too, what i'd like to see the republicans do, i'd like to see them pass a bill extending tax cuts below $250,000 and everyone agrees those should be put through and then put through another bill that extends the tax cuts on those $250,000 and above and let the democrats take ownership because you know, they're going to be held responsible for the economic performance of 2013 and come 2014, you can actually get a political change that might make a difference. stuart: we'll wait and see on that one. art laffer, always
he supported obama totally in the election. without clinton i don't think that obama would have been reelect and that's what he did for him. and what clinton could do in the future, i don't know. i don't know why obama is so insistent on higher tax rates except it fits his rhetoric. stuart: at the end of the day, i think that the republicans will actually submit on the issue of higher tax rates. it may be just tax rates higher for those making half a million a year, i think they'll retreat a...
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i came out the day after the election to put revenues on the table. to take a step towards the president to try to resolve this. >> is there someone you could agree to tax rate increases and protect small businesses may be at the same time? >> there are a lot of things that are possible. the president insists on this position. insist on my way or the highway. next. connell: speaker of the house john boehner. dagen: i think ed henry says no progress and charges at the white house. connell: there is the optimism. it has been waning anyway on the stock market. the speaker talk to you about the phone call about the president needing to get more serious. we will talk more about that coming up. mark warner is supposed to join us from capitol hill later this hour. right now, back to the morning jobs report. 146,000 jobs added in november. the unemployment rate fell to 7.7%. both were better than expected. the thing we will focus on is the big story behind all of this. maybe the fact that a generation of americans are being impacted by the lack of a full-time
i came out the day after the election to put revenues on the table. to take a step towards the president to try to resolve this. >> is there someone you could agree to tax rate increases and protect small businesses may be at the same time? >> there are a lot of things that are possible. the president insists on this position. insist on my way or the highway. next. connell: speaker of the house john boehner. dagen: i think ed henry says no progress and charges at the white house....